Bloomberg News

Thailand Stocks: Jubilee, Thai Union, Univanich, United Palm

April 03, 2012

Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the close in Bangkok.

The SET Index (SET) rose 1 percent to 1,211.07, the highest level since July 1996.

Palm oil producers: Univanich Palm Oil Pcl (UVAN) gained 1.5 percent to 103 baht, the highest close since March 9. United Palm Oil Industry Pcl (UPOIC) advanced 1.1 percent to a record 9.45 baht.

Palm oil futures gained as much as 0.9 percent to 3,566 ringgit ($1,171) a ton on the Malaysia Derivatives Exchange, the highest price for the most-active contract since March 9, 2011.

Jubilee Enterprise Pcl (JUBILE) , a jewelry retailer, jumped 9.1 percent to 14.40 baht, a record close. The company was upgraded to buy from hold by Jaroonpan Wattanawong and Maria Lapiz, analysts at Maybank Kim Eng Securities (Thailand) Pcl.

Thai Union Frozen Products Pcl (TUF) , Thailand’s largest seafood exporter, climbed 3.4 percent to 76.75 baht, a record close. Tuna prices will continue to rise after reaching an all- time high in March, Prasit Sujiravorakul, an analyst at Bualuang Securities Pcl, wrote in a report today. Rising tuna prices will boost Thai Union’s profit margins, the analyst said.

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


Coke's Big Fat Problem
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus